Proposition 8 allows land owners to qualify for a property tax valuation, which would allow the land owner to invest in better water steward practices.  One of the more frequently used options is the open-space valuation option, commonly referred to as the agricultural exemption. Interested parties assert that adding water stewardship purposes to such options will give land owners a tool to better manage their property and incentivize land owners to invest in projects  that  improve water quality and quantity for the state.

You can find more information here: http://www.lrl.state.tx.us/legis/billsearch/text.cfm?legSession=82-0&billtypeDetail=SJR&billNumberDetail=16&billSuffix=&startRow=1&IDlist=&unClicklist=&number=100